Company

News 2009

REQUEST FOR VOLUNTARY SUSPENSION - PORT BOUVARD LIMITED ASX CODE: PBD

Port Bouvard Limited ("the Company") requests the voluntary suspension of its shares prior to the commencement of trading Friday 30 October 2009, pursuant to Listing Rule 17.2.

The Company is seeking suspension while it completes the refinancing of its current loan facilities. Negotiations between the Company and St George Bank ("St George") have progressed since the Company's shares were placed in a Trading Halt on 28 October 2009, however more time is required to finalise these arrangements.

The Company has agreed with St George to extend its current facilities to 31 December 2009 while discussions continue with a view to finalising longer term arrangements. During this period St George will continue its due diligence process which has been ongoing for some time.

The Company continues to work with St George to achieve an appropriate refinancing outcome as
soon as practicable, and in parallel is assessing its future capital management strategies.

Given the ongoing nature of these discussions, the Company is concerned that the market would be trading on an uninformed basis if the suspension is not granted. The Company also notes that its discussions with St George are confidential pending the finalisation of refinancing arrangements.

Further, the Company is aware of considerable media and analyst speculation regarding the status of the refinancing negotiations and is concerned that it may not be able to satisfactorily respond to possible future speculation in a timely manner while continuing negotiations to complete the refinancing.

The Company expects to seek re-instatement of its shares to normal trading subject to completion of its financing negotiations. However, the Company notes that this process is largely dependent on the duration of St George's internal credit processes.

The Company is not aware of any reason why the suspension should not be granted.